The cloud is so massively insecure (by design) that a massive data breach will happen. From a technological perspective, the host (or cloud provider) can read the memory and disk space of every guest (client). Therefore no form of encryption or data protection is actually secure.
With that in mind, all PII, financial and other data stored in the cloud will be breached eventually, if it has not been already. It’s just a matter of a malicious hacker or devious employee at a big cloud company gaining host-level access.
Be careful both trusting your information to the cloud (where you have a choice) as well as investing in companies that are completely cloud-driven. We may see an unexpected upset when the realization that virtualization isn’t nearly as secure as once thought hits.